Current Affairs of 8 April 2025

National and International Current Affairs - April 8, 2025

International Relations

• India Pursues Bilateral Trade Agreements Amid Global Tariffs: India's Finance Minister Nirmala Sitharaman stated that global uncertainties, including recent U.S. tariffs, are prompting India to pursue more bilateral trade agreements, notably a long-anticipated free trade deal with the UK. Speaking in London ahead of talks with UK Chancellor Rachel Reeves, Sitharaman emphasized India's shift toward broader international engagement, citing recent trade deals with Australia, the UAE, and Oman, and ongoing negotiations with the EU. The potential UK agreement, in discussion since January 2022, may be accelerated due to increasing global economic pressures and concerns about U.S. tariffs. Key issues under negotiation include mutual recognition of professional qualifications, science and technology collaboration, and higher education ties. The UK seeks tariff reductions on exports like cars and whisky, and greater market access for legal and financial services, while India requests streamlined visa processes for temporary workers. Indian concerns include the obligation for workers on UK business visas to pay national insurance without accessing associated benefits. Despite India’s historically protectionist stance, Sitharaman highlighted Prime Minister Modi’s push for economic liberalization and global integration.
• China Urges India to Unite Against U.S. Tariffs: The Chinese Embassy in India called for China and India to stand together in response to U.S. tariffs, emphasizing the need for collaboration between the two nations to address the challenges posed by U.S. trade policies.

National News

• Waqf (Amendment) Act Comes into Force: The Waqf (Amendment) Act, 2025, came into effect on April 8, following President Droupadi Murmu's approval. The Act aims to bring significant changes to the management and administration of Waqf properties in India.
• India Overhauls Education in Himalayan Buddhist Monasteries: India is set to implement its first standardized curriculum for Buddhist monasteries in Himalayan border areas to promote national identity and counter Chinese influence. The new educational framework will be introduced to approximately 600 monasteries in states including Arunachal Pradesh, which is claimed by China, and regions like Ladakh and Sikkim. The initiative aims to provide Indian-certified education alongside traditional Buddhist teachings, incorporating subjects such as Indian and Tibetan history, mathematics, science, computer science, and languages like English, Hindi, and Bhoti. Approximately 20 monasteries have already agreed to adopt the curriculum, with others expected to follow.

Economy

• Power Grid Corporation of India Underperforms Amid Market Gains: On April 8, shares of Power Grid Corporation of India Ltd. declined slightly by 0.19%, closing at ₹288.80. This performance contrasts with a generally positive trading day for the broader market, as the BSE SENSEX Index rose by 1.49% to 74,227.08. Notably, Power Grid's stock remains significantly below its 52-week high of ₹366.20, reached on September 25. The company also underperformed relative to peers in the energy and utilities sector; Tata Power Co. Ltd. and Jindal Steel & Power Ltd. each gained 1.37%, while Gujarat Industries Power Co. Ltd. climbed 4.65%. Additionally, trading volume for Power Grid was 843,946 shares, considerably higher than its 50-day average of 363,890 shares.
• Asian Paints Outperforms Market: On April 8, Asian Paints (India) Ltd. shares gained 2.36%, closing at ₹2,394.15 during a generally positive trading session in which the BSE SENSEX Index rose by 1.49% to 74,227.08. Despite the uptick, the stock remains 29.46% below its 52-week high of ₹3,394.00, last reached on September 16. When compared with competitors, Asian Paints showed mixed results: Shalimar Paints Ltd. surged 10.00%, Akzo Nobel India Ltd. rose by 2.32%, while Jenson & Nicholson (India) Ltd. declined by 4.83%. Trading volume for Asian Paints stood at 76,909 shares, slightly below its 50-day average of 77,471 shares.

Government Initiatives

• Pradhan Mantri Mudra Yojana Celebrates 10th Anniversary: On April 8, India celebrated 10 years of the Pradhan Mantri Mudra Yojana (PMMY), a transformative scheme launched in 2015 to provide collateral-free loans up to ₹20 lakh to micro and small enterprises, especially in rural and semi-urban India. Over 52 crore loans worth ₹32.61 lakh crore have been sanctioned, with 68% to women and 50% to SC/ST/OBC beneficiaries, reflecting inclusive growth.

Defense

• India and U.S. Conduct Fourth Edition of 'Tiger Triumph' Exercise: The fourth edition of the 'Tiger Triumph' exercise, a bilateral tri-service amphibious military exercise between India and the United States, commenced on April 1, 2025. The exercise is being conducted in two phases: the Harbour Phase from April 1 to 7 in Visakhapatnam, and the Sea Phase from April 8 to 13 off the coast of Kakinada. The exercise aims to enhance interoperability between the armed forces of both nations, focusing on humanitarian assistance and disaster relief (HADR) operations. Notably, the United States Space Force is participating in the exercise for the first time, alongside approximately 3,000 personnel, at least four ships, and seven aircraft from both countries.